Memecoins Plummet: PEPE Crashes, Ronaldinho’s STAR10 Loses 65% Value
Digital assets were trading negatively on Tuesday, March 4, 2025, with Bitcoin dropping to $83,890. While altcoins suffered significant losses amid macroeconomic concerns triggered by new tariffs, memecoins appeared to be hit the hardest. According to data from Coingecko, the market capitalization of all meme tokens plunged over 20% to $57 billion just the day before.
The frog-themed PEPE saw substantial declines due to continued bearish sentiment, recording nearly 20% losses within the last 24 hours. The bearish structure of PEPE suggests more downward movement is likely. On Tuesday, March 4, 2025, PepeCoin continued its slide, losing more than 18% during the day. On-chain indicators and technical data highlighted dominant selling pressure for PEPE, with trading volume and daily active addresses on the decline. The number of addresses has fallen from 7,310 at the beginning of February to just 3,610 today.
This decline starkly reflects diminished demand for the meme cryptocurrency. The trading volume dropped sharply from $3.18 billion at the beginning of February to $1.01 billion on March 4, 2025. A technical analysis indicates PEPE could suffer double-digit losses, potentially falling below $0.000058, the low seen last August. Currently, PEPE is trading at around $0.000069, having breached its ascending trend line on February 24, 2025, after being rejected following another test. The four-hour MACD confirms substantial selling pressure with a sharp bearish cross.
STAR10 Crashes After Launch
Former football legend Ronaldinho Gaucho introduced the STAR10 token on the Binance Chain on March 3, 2025, where it initially surged to highs of $0.3842. Unfortunately, the overall market sentiment weighed heavily on STAR10, which plummeted thereafter to $0.1500, marking approximately 65% losses from its peak within just 24 hours. This tumultuous debut raises questions within the community about the legitimacy of the token, especially after rumors of insider trading surfaced, hinting at price manipulation.
Users are questioning the purpose of STAR10 and Ronaldinho’s motivations for entering the often tumultuous world of cryptocurrency. A user commented, “Ronaldinho, you’re a legend on the field, no doubt. But let’s see if $STAR10 is here to make history or just make exits. We’ll be watching.” This skepticism reflects the broader challenges faced by newly launched cryptocurrencies.
The launch of STAR10 follows the recent trend of celebrity-backed digital assets, with releases like TRUMP, MELANIA, and LIBRA over the past few months. Despite generating substantial initial attention, most of these projects lack real use cases, leaving them vulnerable to extreme price volatility. Investors can feel the weight of losses from previous celebrity initiatives as PEPE and STAR10 similarly embody the prevailing downward trends within the cryptocurrency market.
Simultaneously, Bitcoin and other major cryptocurrencies faced their share of struggles. Bitcoin fell below $83,000 after peaking at $93,685 earlier, just before President Donald Trump’s announcement of his intention to create a cryptocurrency reserve for the U.S. This news initially sparked hopes among investors but was short-lived, leaving Bitcoin trading at $86,700 before continuing its downward trend.
Ethereum mirrored Bitcoin's struggles, completely reversing its gains from Sunday and hitting lows it hadn’t seen relative to Bitcoin for five years, trading today at $2,066, down 15.53% over the last day. Despite the initial positive reaction to Trump's announcement, over $1.07 billion was liquidated from the cryptocurrency market within 24 hours, amplifying the selling pressure.
The Crypto Fear & Greed Index currently stands at 15, indicating substantial fear among investors, down from 29 last week and starkly lower than the neutral level of 45 registered last month. This state of trepidation carries weight as stakeholders ponder whether the downturn is mere correction or indicates the end of the bullish trend.
Further complicate matters, new agricultural tariffs imposed by the Trump administration set to take effect on April 2, 2025, are causing additional anxiety within the economic framework. Recent economic reports, including the ISM Manufacturing PMI, fell from 50.9 to 50.3, heightening the atmosphere of uncertainty.
Adding to the complexity of the situation, Ethereum's blockchain recorded net outflows of $7.4 million over the past day. Despite these challenges, the SEC has reportedly dropped charges against Kraken and Yuga Labs, forming its special crypto team to address the growing sector more effectively.
The broader picture reflects markets remaining jittery as investors await key events, including the crypto summit slated for Friday, March 7. The combination of macroeconomic trends influencing stock markets and digital assets will be closely monitored as participants contemplate if cryptocurrencies can withstand economic pressures and whether stability will return soon.